The S&P 500 has been above the 1370 support area since April 18th. This is leading a number of bullish traders to talk some brave talk on CNBC the last few days, talk like “the bull market is ready to…Continue Reading →
Back in mid-March the macro technicals turned on interest rates, the dollar, and gold. That top in bonds and gold and bottom in the dollar are the markers for much of what is unfolding now. I would view these as…Continue Reading →
We will be out until June 3rd. If something big changes things, we will post, otherwise keep up the same posture. Oil traders will find it hard not to buy every break, but the oil market is over for now in…Continue Reading →
As we have mentioned recently the selloff in gold, commodities, and oil accompanied with a dollar rally will continue for a while with as much as a 30 percent decline in those sectors. This will be supportive for the stock…Continue Reading →
The market will probably make a broad secondary top, 1350 to 1440 on the S&P 500 over the next three months before heading lower. While oil prices are a factor weighing down the market, the biggest factor is the depletion…Continue Reading →
Investors hate bears. In the classic book, “THE BEAR BOOK” written by John Rothchild in 1998, his number one rule is not to tell anyone you think the market is too expensive, keep your thoughts to yourself. In reality, investors…Continue Reading →
We are watching this early action today. Short term market calls are difficult at best, but the proximity of the optimum sell level and economic reports later this week tell us that traders should have short poistions in the stock…Continue Reading →
Is it coincidence that the oil market made a base the day of the first current stock market low on 1/22/08 and has rallied 49 percent? The Fed has provided a lot of liquidity during this time and no doubt…Continue Reading →
The commodity bubble will not end until interest rates, especially short term rates rise measureably, ie Fed Funds over 5 %, however we are seeing the start of an estimated 30 percent trading decline in the grain and oil market. This will…Continue Reading →
While the administration likes to point out that the filling of the strategic oil reserves is not a factor in oil prices, it remains a fact that commodities are priced at the margin. The oil reserve has been the buyer…Continue Reading →